U.S. West Apartment Rents Increase as Foreclosures Boost Demand
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Apartment rents rose across the U.S. West and South for the third straight quarter as record foreclosures boosted demand for rental housing, RealFacts said.
The average asking rent climbed to $958 a month from $950 in the second quarter, according to a report released today by the Novato, California-based research company. It declined 0.7 percent from a year earlier. Rents reached a record $1,002 in the third quarter of 2008.